South Dakota Statutes
§ 58-5-135 — Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer.
South Dakota § 58-5-135
This text of South Dakota § 58-5-135 (Members of mutual insurer voting on merger or consolidation--Procedure--Limited right of members of life insurer.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 58-5-135 (2026).
Text
The plan and agreement for merger or consolidation shall be submitted to and approved by at least two - thirds of the members of each mutual insurer involved voting thereon at meetings called for the purpose pursuant to such reasonable notice and procedure as has been approved by the director of the Division of Insurance. If a life insurer, right to vote may be limited to members whose policies are other than term and group policies, and have been in effect for more than one year.
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Legislative History
SL 1966, ch 111, ch 16, § 39 (3).
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 58-5-135, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-5-135.